Hot Stocks: Global brokerages on Zee Entertainment, Muthoot Finance, and Info Edge

Global brokerage firm JPMorgan maintained its overweight rating on InfoEdge, CLSA maintained underperform rating on Muthoot Finance, and CLSA recommend buy on Zee Entertainment.

We have collated a list of recommendations from top global brokerage firms from ETNow:

JPMorgan on Info Edge: Overweight| Target Rs 5600
JPMorgan maintained its overweight rating on Info Edge with a target price of Rs 5600 which translates into an upside of over 26 per cent from Rs 4431 recorded on 12 August.

The core billings continue to remain strong. Naukri remains the star, with 99 acres investments to continue. The global investment bank raised overall revenues by 6%/7%/7% in FY23/24/25.

CLSA on Muthoot Finance: Underperform| Target Rs 1200
CLSA maintained the underperform rating on Muthoot Finance with a target price of Rs 1200 which translates into a marginal upside of over 1 per cent from Rs 1187 recorded on 12 August.

Gold loan book contracted while discontinued teaser loans to benefit yields from the next quarter, the brokerage said. The expense ratio remains elevated.

CLSA on Zee Entertainment: Buy| Target Rs 316
CLSA maintained its buy rating on Zee Entertainment with a target price of Rs 316 which translates into an upside of over 30 per cent from Rs 241 recorded on 12 August.

"Q1 was hit by a weak ad environment. However, Q1FY23 advertising revenue was up 6 per cent YoY. The global investment bank slashed FY23/25CL forecasts by 2-12%," it said.

We see the merger closure as a stock catalyst, said the note.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)